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Trading by The Book

The Key to Your Futures Trading Education

"My family started trading in the futures markets over one hundred years ago. Much of the knowledge acquired since then is shown in this manual. Markets change their characteristics, but the truth of the markets has not changed at all. Regardless of what you trade - stocks, futures, forex, CFD - trading is trading, and the contents of this book are fundamental to trading."
~ Joe Ross

In Trading by the Book, you get an inside look at the reality of trading from a professional who trades and earns his money in the markets. It is not a “get rich quick” scheme. It is a guideline to trading markets rationally. Once they are mastered, the methods shown throughout are good for a lifetime. You will never need to know any more than this to be profitable in the markets.

As Joe Ross has stated, "In all of my instructional materials, I take you through real trades, trades that I made. You will be looking over my shoulder as I trade. Page after page, you will see what I did, why I did it, and when I did it. You will know what factors I took into consideration for each trade. You will see my wins and you will see my losses. You will see the mistakes I made, and the trades I missed. Most of all, you will learn a great many lessons. My trading isn't perfect. I don't know anyone whose trading is."

Highlights and Benefits

Possibilities

Trading breakouts of a range is one of Joe’s favorite ways of trading, and he teaches you what to do in every possible scenario. He defines the breakout from a consolidation, and then he shows you how to set your objectives for your trade. It really has to be according to your trading style. Joe shows you both how he thinks and trades, and also what choices you have under different scenarios that may develop after the entry.

The information in this section can inspire you to become a high percentage trader. He teaches you how to pick up setups that win 70% - 80% of the time, or when stay away. You will define exactly what you want from every trade before you enter: what instrument, which market, and what time frame, based on clear facts that are part of your trading style and objectives.

Market harmony, and little things that mean a lot

Trading can be easy when you know how to make it so. In this section you learn the utter simplicity of trading that most market participants never experience. What he shows occurs frequently on all charts, with a high percentage rate of wins. It comes from paying attention to the little things. Rather than describing his techniques in a lot of words, Joe shows them first on charts, which are then accompanied by those trades being dissected with the help of words. The trades, and thus the market anatomy, unfold.

Markets follow the natural order of things, and as a trader you want to be in harmony with the natural order of the markets. However, this can be difficult as long as the tendency to make a god of technical and fundamental approaches exists. Ultimately, both types of analyses turn out to be false gods. Joe shows you that, with few exceptions, traditional technical analysis is wrong for most traders, and fundamental analysis is a waste of time for all but the very large traders and the commercial interests.

Why kick a thorn bush? The greatest lesson

Trading by the Book shows you that once you pick up a very simple method, master it, and learn to trade it successfully, you will come out way ahead of the majority of traders. It is the dollars won versus the dollars lost that are crucial, not the win versus loss percentages. Joe shows you how to be eclectic, how to take a good hard look at the big picture, and how to go with a market that has a high probability of going a certain way.

In this section, you will discover the greatest single concept that he ever learned in trading. This one concept, if mastered, can make virtually anyone a winner the vast majority of the time. It is totally against human nature, and it takes complete humility to do it. It is an admission that the market knows where it's going, and the trader doesn't!

The anatomy of a market and refinements

What about a market do you see depicted in a price bar? Joe shows you the truth that can be found in a single pictograph of a market. These "truths" are a good part of what we have upon which to base a trading decision to place orders in any market.

Joe teaches that a market, over time, has an anatomical structure. What we see are trading ranges, connected by trending formations. He shows that a market can be dissected - divided up into its component anatomical parts – and teaches several ways to trade each of these component parts.

Trading within a trading range

This part of the book teaches what to do during congestions, specifically, what to do when congestion is less than 21-29 bars long on the chart. He also shows how to trade within a trading range, a technique that produces about 55% winners. In addition, he reveals how and when to trade one-two-three tops and bottoms from a congestion area, so that it's possible to get a jump on the breakout of a trading range.

A year of trading

Joe puts it all together by showing, on some continuous charts, an entire year's worth of trading. It's so relaxing and easy that it is truly amazing when you see it! The trading methods shown are different in the way they work with the various markets.

Although on the surface all markets look about the same, upon closer examination they are quite different from one another in the way they trend, the duration of their trends, the way they form bottoms and tops, and the way they break out of congestion. These are individual personalities of the markets that the trader must learn to understand, and trade accordingly.

Trading by the Book is loaded with charts. In it you will see an entire year's trading of a portfolio of seven commodities. Illustrations and examples of every single concept are shown, in an easy-to-read, easy-to-understand format. All charts are shown on the same page as the commentary that goes with each chart. There is no looking forward or back several pages to refer to a chart. Neither do you ever have to turn the book sideways to see a chart while trying to read the text at a ninety degree angle.

Trading by the Book teaches you rational methods of trading the markets

"I recently ordered 'Trading the Ross Hook'and 'Trading by the Book' and I am overwhelmed by the sincerity and competency of Joe Ross. Seven years ago, I quit a management career in another industry to switch over into retail based Financial Services and personal trading of stocks and futures. I've tried almost every piece of software and newsletter available in an attempt to educate myself about trading. I've spent almost all of my personal time trying to get a handle on the trading strategy that works. Sadly it seems I've wasted thousands of hours and large amounts of money lost in the markets. Reading Joe's books now for the first time has inspired me to the very positive impact of your manuals have had on me at this time in my career, and I have not yet scratched the surface, so to speak.I truly believe that I need a mentor like Joe Ross because I know that I can't "reinvent the wheel" myself, even to a very basic extent."~ Christopher, Switzerland.

"I purchased a copy of 'Trading By The Book.' Generally speaking, I find every Market' related book has some 'pearls' of wisdom. Here, I was pleasantly surprised to find that almost every sentence had meaning and merit. I felt like I was doing surgery and being led only by the manual (as opposed to the doctor standing next to me). Wow, it was possible to understand and believe that I could actually trade that way. This, only having read the content one time. I know multiple reads will enhance my understanding measurably. Finding that there was such quality/value/depth with your work, I purchased the remaining volumes."~ Peter

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Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone.
There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be
fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results.
For more information, see the Risk Disclosure Statement for Futures and Options.